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Journal articles on the topic 'Sovereign debt'

Author: Grafiati

Published: 4 June 2021

Last updated: 25 July 2025

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1

Bolton, Patrick, Mitu Gulati, and Ugo Panizza. "Sovereign Debt Puzzles." Annual Review of Financial Economics 15, no. 1 (2023): 239–63. http://dx.doi.org/10.1146/annurev-financial-111620-030025.

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We review the state of the sovereign debt literature and point out that the canonical model of sovereign debt cannot be easily reconciled with several facts about sovereign debt pricing and servicing. We identify and classify more than 20 puzzles. Some are well-known and documented, others are less so and are sometimes based on anecdotal evidence. We classify these puzzles into three categories: puzzles about how sovereigns issue debt; puzzles about the pricing of sovereign debt; and puzzles about sovereign default and the working out of defaults. We conclude by suggesting possible avenues for

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2

Chatterjee, Satyajit, and Burcu Eyigungor. "A Seniority Arrangement for Sovereign Debt." American Economic Review 105, no. 12 (2015): 3740–65. http://dx.doi.org/10.1257/aer.20130932.

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A sovereign’s inability to commit to a course of action regarding future borrowing and default behavior makes long-term debt costly (the problem of debt dilution). One mechanism to mitigate this problem is the inclusion of a seniority clause in debt contracts. In the event of default, creditors are to be paid off in the order in which they lent (the “absolute priority” or “first-in-time” rule). In this paper, we propose a modification of the absolute priority rule suited to sovereign debts contracts and analyze its positive and normative implications within a quantitatively realistic model of

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3

Eichengreen, Barry. "Restructuring Sovereign Debt." Journal of Economic Perspectives 17, no. 4 (2003): 75–98. http://dx.doi.org/10.1257/089533003772034907.

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This paper provides new empirical evidence relevant to the debate over the desirability of reforms to the way that financial markets and the international community deal with sovereign debt crises. In particular, given the ongoing opposition of investors and some sovereigns to greater use of collective action clauses (CACs) in emerging market bonds, we present new evidence on the way that financial markets have priced the use or non-use of CACs.

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4

Ellis, Colin. "Sovereign Debt Restructuring: A Modest Proposal." Journal of Economics and Management Sciences 4, no. 1 (2021): p8. http://dx.doi.org/10.30560/jems.v4n1p8.

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Many sovereigns, including weaker credits, have taken on substantial debt during the COVID-19 pandemic. This raises the prospect of future defaults and sovereign restructurings, which will be informed by debt-sustainability analysis. But when analyzing notable recent sovereign defaults, we find a pattern of serially correlated errors: the analysis at the time of the restructuring is too optimistic about future sovereign debt dynamics. In light of this, I propose that future sustainability analysis should be based on more pessimistic expectations. In turn, this implies that sovereign creditors

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5

Martinez, Leonardo, Francisco Roch, Francisco Roldán, and Jeromin Zettelmeyer. "Sovereign Debt." IMF Working Papers 2022, no. 122 (2022): 1. http://dx.doi.org/10.5089/9798400213250.001.

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6

Singh, Devin. "Sovereign Debt." Journal of Religious Ethics 46, no. 2 (2018): 239–66. http://dx.doi.org/10.1111/jore.12217.

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7

Körner, Finn Marten, and Hans-Michael Trautwein. "Rating sovereign debt in a monetary union – original sin by transnational governance." Journal of Risk Finance 16, no. 3 (2015): 253–83. http://dx.doi.org/10.1108/jrf-11-2014-0171.

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Purpose – The purpose of this paper is to test the hypothesis that major credit rating agencies (CRAs) have been inconsistent in assessing the implications of monetary union membership for sovereign risks. It is frequently argued that CRAs have acted procyclically in their rating of sovereign debt in the European Monetary Union (EMU), underestimating sovereign risk in the early years and over-rating the lack of national monetary sovereignty since the onset of the Eurozone debt crisis. Yet, there is little direct evidence for this so far. While CRAs are quite explicit about their risk assessmen

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8

Kivisi, Felister Saliku. "AFRICA’S SOVEREIGN BOND DEBTS: ALTERNATIVE TO DEAD AID AND CATALYST FOR DEVELOPMENT." American Journal of International Relations 4, no. 1 (2019): 1–16. http://dx.doi.org/10.47672/ajir.377.

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Purpose: The study sought to examine viability of sovereign bond debts, the alternative to foreign aid, which Dambisa Moyo calls ‘Dead Aid’, for financing economic development in Africa.Methodology: The research is a desk research via the qualitative methodology where information was derived from published scholarly works of various authors on the issue of aid, debt and development of African countries.Findings: The study shows that several African countries, such as Angola, Kenya, Zambia, Côte d’Ivoire, Senegal and Gabon have ventured into international capital markets and accessed the sovere

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9

Ghulam, Yaseen, and Sheen Liu. "The Feedback Effects of Sovereign Debt in a Country’s Economic System: A Model and Application." Journal of Risk and Financial Management 18, no. 6 (2025): 302. https://doi.org/10.3390/jrfm18060302.

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Many of the existing theoretical and empirical studies ignore the two-way relationship between a sovereign’s credit risk and economy. To address this gap, we develop a theoretical model that incorporates the feedback effects of sovereign-debt credit risk on a country’s economy and then provide empirical implications. The model links the risks of sovereign debt and economic fundamentals through a two-way transmission mechanism. In doing so, it demonstrates how economic-fundamentals-driven sovereign-debt credit risk can have a significant impact on economic fundamentals through a feedback effect

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10

Lienau, Odette. "Narrative and Strategy in Sovereign Debt." differences 31, no. 3 (2020): 169–87. http://dx.doi.org/10.1215/10407391-8744581.

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This essay argues that issues of sovereign state debt repayment and collection—too often assumed to be free of the contingency and elasticity of narrative—are deeply shaped by historically grounded discourses of sovereignty that delineate boundaries between the public and private arenas. Conventional understandings of international finance fail to address the complexities of who should repay sovereign state debt and whose assets should be collected in the event of nonpayment. For answers to these inquiries, the narrative of debt needs to be understood as embedded within narratives of sovereign

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11

Aitken, Rob. "The Sovereignty of Finance? Distress and the Financialization of Sovereign Debt." Perspectives on Global Development and Technology 18, no. 5-6 (2019): 493–526. http://dx.doi.org/10.1163/15691497-12341529.

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Abstract This article argues that the relationship between finance and state sovereignty is neither automatic nor understandable in some generalized manner. To develop this argument, I pay particular attention to the financialization of distressed sovereign debt, especially sovereign debt defaults in the Global South with particular reference to Argentina’s default in 2001 and the string of legal cases it triggered. These legal processes breathed a strange after-life into Argentina’s defaulted debt by converting that debt into fully commodified financial contracts. I argue that the financializ

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12

Dvorkin, Maximiliano, Juan M. Sánchez, Horacio Sapriza, and Emircan Yurdagul. "Sovereign Debt Restructurings." American Economic Journal: Macroeconomics 13, no. 2 (2021): 26–77. http://dx.doi.org/10.1257/mac.20190220.

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Sovereign debt crises involve debt restructurings characterized by a mix of face value haircuts and maturity extensions. The prevalence of maturity extensions has been hard to reconcile with economic theory. We develop a model of endogenous debt restructuring that captures key facts of sovereign debt and restructuring episodes. While debt dilution pushes for negative maturity extensions, three factors are important in overcoming the effects of dilution and generating maturity extensions upon restructurings: income recovery after default, credit exclusion after restructuring, and regulatory cos

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13

Correa, Ricardo, and Horacio Sapriza. "Sovereign Debt Crises." International Finance Discussion Paper 2014, no. 1104 (2014): 1–36. http://dx.doi.org/10.17016/ifdp.2014.1104.

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14

Furlong, Kathryn. "Spacing sovereign debt." Dialogues in Human Geography 12, no. 2 (2022): 331–34. http://dx.doi.org/10.1177/20438206221075703b.

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15

Lo Schiavo, Gianni. "Sovereign Debt Management." King's Law Journal 26, no. 1 (2015): 157–60. http://dx.doi.org/10.1080/09615768.2015.1035137.

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16

Phan, Toan. "NOMINAL SOVEREIGN DEBT." International Economic Review 58, no. 4 (2017): 1303–16. http://dx.doi.org/10.1111/iere.12252.

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17

Kroszner, Randall S. "Sovereign Debt Restructuring." American Economic Review 93, no. 2 (2003): 75–79. http://dx.doi.org/10.1257/000282803321946831.

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18

Phan, Toan. "Sovereign debt signals." Journal of International Economics 104 (January 2017): 157–65. http://dx.doi.org/10.1016/j.jinteco.2016.11.005.

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19

Reinhart, Carmen M., and Kenneth S. Rogoff. "From Financial Crash to Debt Crisis." American Economic Review 101, no. 5 (2011): 1676–706. http://dx.doi.org/10.1257/aer.101.5.1676.

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Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both “world” aggregate levels and on an individual country basis. First, external debt surges are an antecedent to banking crises. Second, banking crises (domestic and those in financial centers) often precede or accompany sovereign debt crises; we find they help predict them. Third, public borrowing surges ahead of external sovereign default, as governments have “hidden domestic debts

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20

Zhylinskyi, Andriy I. "Ukrainian Realities of Sovereign Debt Restructuring through the Lens of Historical Retrospect." Business Inform 7, no. 558 (2024): 371–78. http://dx.doi.org/10.32983/2222-4459-2024-7-371-378.

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Geopolitical challenges and socioeconomic upheavals, which intensified as a result of the armed military aggression unleashed by the russian federation, significantly complicated the process of forming the revenue part of the State budget and caused a significant increase in public expenditures, which led to a budget deficit and the inability of Ukraine to service its sovereign debt obligations in the form of Eurobonds. Therefore, there was a need to restructure sovereign debt obligations. The problem statement of the article includes determining the prerequisites and evaluating the prospects

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21

Ari, Anil, Giancarlo Corsetti, and Luca Dedola. "Debt Seniority and Sovereign Debt Crises." IMF Working Papers 18, no. 104 (2018): 1. http://dx.doi.org/10.5089/9781484353691.001.

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22

Demoussis, Michael, Konstantinos Drakos, and Nicholas Giannakopoulos. "The impact of sovereign ratings on euro zone SMEs’ credit rationing." Journal of Economic Studies 44, no. 5 (2017): 745–64. http://dx.doi.org/10.1108/jes-03-2016-0046.

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Purpose The purpose of this paper is to investigate credit rationing across firms in euro zone countries, as it relates to its own sovereign credit ratings. Design/methodology/approach The authors utilize firm-level data from the Survey on Access to Finance of Enterprises for the period 2009-2013 conducted by the European Central Bank. Findings A negative association between the rating of sovereign creditworthiness and credit rationing is identified, while credit rationing varies substantially even among countries with the highest quality of sovereign bonds. Credit rationing is lower in sovere

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23

CONSIGLIO, ANDREA, MICHELE TUMMINELLO, and STAVROS A. ZENIOS. "PRICING SOVEREIGN CONTINGENT CONVERTIBLE DEBT." International Journal of Theoretical and Applied Finance 21, no. 08 (2018): 1850049. http://dx.doi.org/10.1142/s0219024918500498.

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We develop a pricing model for Sovereign Contingent Convertible bonds (S-CoCo) with payment standstills triggered by a sovereign’s Credit Default Swap (CDS) spread. We model CDS spread regime switching, which is prevalent during crises, as a hidden Markov process, coupled with a mean-reverting stochastic process of spread levels under fixed regimes, in order to obtain S-CoCo prices through simulation. The paper uses the pricing model in a Longstaff–Schwartz American option pricing framework to compute future state contingent S-CoCo prices for risk management. Dual trigger pricing is also discu

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24

Cookey, Uche Clinton, and Anthonia Chikamunele Anyanwu. "Sovereign Debt and Economic Development: Evidence from Nigeria." GPH-International Journal of Business Management 07, no. 05 (2024): 19–32. https://doi.org/10.5281/zenodo.11532602.

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Sovereign debt is a critical fiscal policy instrument used by government to achieve its set macroeconomic objective making it a critical subject in economics and finance and hence our motivationfor the need to examined the impact of sovereign debt on economic development of Nigeria. Sovereign debt was broken into external debt, domestic debt and debt services while economic development was proxied by per capita income. Annual time series data from 1990 to 2021 obtained from Central Bank of Nigeria statistical bulletin was used for analysis while statistical method of analysis employed include

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25

Bello, Muhammad, and Elizabeth Snyman-van Deventer. "Reconceptualising sovereign debt in international law." Law, Democracy and Development 26 (November 4, 2022): 1–37. http://dx.doi.org/10.17159/2077-4907/2022/ldd.v26.10.

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Recurring debt crises and innovations in the sovereign debt landscape over the past couple of decades have rekindled interest in the nature and forms of sovereign debt. There are multiple outlets for contracting loans, all with different policies, principles and procedures. For instance, resource-backed loans have provided an additional option for resource-rich countries in Africa and Latin America to support their quest for infrastructural development. However, these and other innovations in sovereign financing may affect the dominant understanding and dynamics of sovereign debt governance. T

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26

Herman, Barry. "A Role for Legitimacy in Sovereign Debt: A Review Essay on Odette Lienau, Rethinking Sovereign Debt, 2014." Accounting, Economics, and Law: A Convivium 6, no. 3 (2016): 219–41. http://dx.doi.org/10.1515/ael-2015-0017.

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Abstract The book under review seems especially relevant to the intergovernmental policy dialogues that have recently focused on how creditors and a borrowing government should vet sovereign borrowing, and how to hold the lender and borrower accountable for their decisions. The book seeks to specify under what circumstances, if any, there are limits to the legal obligation to repay a sovereign loan. While repayment is always required except in cases of sovereign insolvency when it is just not possible, there have been exceptions to absolute repayment obligation in practice and in legal theory.

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27

Hryhoriev, Hennadiy. "Path Dependence in Sovereign Debt Modelling: System Dynamics Approach." Scientific Papers NaUKMA. Economics 6, no. 1 (2021): 52–58. http://dx.doi.org/10.18523/2519-4739.2021.6.1.52-58.

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The article offers a system dynamic modelling of sovereign debt using the path dependence concept. Using simulation modelling we are trying to find a fixed point in a motion of national sovereign debt towards its equilibrium and to change the existing mental model perception towards sovereign debt by changing the structure of the system.The research reveals the idea of the “debt snowball concept” using recursive dynamic approach. The dynamic linear and nonlinear recursive models of Ukrainian sovereign debt with the appropriate multi – order recursive equations are constructed.The fixed point a

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28

Guler, Bulent, Yasin Kürşat Önder, and Temel Taskin. "Hidden Debt." AEA Papers and Proceedings 112 (May 1, 2022): 536–40. http://dx.doi.org/10.1257/pandp.20221003.

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We study the role of transparency in debt and default dynamics in a quantitative sovereign default model augmented with asymmetric information. We assume that the sovereign debt portfolio is not transparent and part of the debt is not observable to lenders. The quantitative model is calibrated to the Bolivian economy and matches its long-term and business cycle properties. The quantitative results show that when the government moves to a transparent reporting regime, bond prices improve and the sovereign debt portfolio shifts toward noncontingent debt with an increase in overall debt level. Ho

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29

Dorn, Nicolas. "From credit to debt: A political history of English sovereign finance and money from the seventh century to the seventeenth." Finance and Society 5, no. 1 (2019): 42–60. http://dx.doi.org/10.2218/finsoc.v5i1.3017.

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This article provides a new perspective on sovereign finance and money in England from pre- modern to early modern times. Re-reading the literature on sovereign fiscality through the lens of sovereign jurisdictions and religious authority, it describes two distinct forms of sovereign finance: the rise and fall of sovereign credit from the seventh to eleventh century, followed by sovereign debt developing from the eleventh century into ‘modern’ sovereign debt from the seventeenth century onwards. In the early Anglo Saxon period, sovereign credit was given and received in non-monetised forms. It

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30

Roch, Francisco, Sakai Ando, Ursula Wiriadinata, and Chenxu Fu. "Sovereign Climate Debt Instruments." Staff Climate Notes 2022, no. 004 (2022): 1. http://dx.doi.org/10.5089/9798400210006.066.

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31

Dvorkin, Maximiliano, Juan M. Sánchez, Horacio Sapriza, and Emircan Yurdagul. "Improving Sovereign Debt Restructurings." Federal Reserve Bank of Richmond Working Papers 22, no. 06 (2022): 1–52. http://dx.doi.org/10.21144/wp22-06.

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32

Romantsova, Tatyana Vladimirovna. "RUSSIA’S SOVEREIGN DEBT PROBLEM." Industrial Economics 1, no. 1 (2022): 60–64. http://dx.doi.org/10.47576/2712-7559_2022_1_1_60.

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33

Schimmelpfennig, Axel, Nouriel Roubini, and Paolo Manasse. "Predicting Sovereign Debt Crises." IMF Working Papers 03, no. 221 (2003): 1. http://dx.doi.org/10.5089/9781451875256.001.

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34

Bliss, Christopher. "Prudent sovereign debt borrowing." Oxford Economic Papers 70, no. 4 (2018): 1136–47. http://dx.doi.org/10.1093/oep/gpy017.

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35

Bowdler, C., and R. P. Esteves. "Sovereign debt: the assessment." Oxford Review of Economic Policy 29, no. 3 (2013): 463–77. http://dx.doi.org/10.1093/oxrep/grt037.

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36

Jones, Erik. "Italy's Sovereign Debt Crisis." Survival 54, no. 1 (2012): 83–110. http://dx.doi.org/10.1080/00396338.2012.657545.

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37

Hatchondo, Juan Carlos, Leonardo Martinez, and César Sosa Padilla. "Voluntary sovereign debt exchanges." Journal of Monetary Economics 61 (January 2014): 32–50. http://dx.doi.org/10.1016/j.jmoneco.2013.11.002.

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38

Barry, Christian, and Lydia Tomitova. "Fairness in Sovereign Debt." Ethics & International Affairs 21, S1 (2007): 41–79. http://dx.doi.org/10.1111/j.1747-7093.2007.00084.x.

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39

Eaton, Jonathan. "Sovereign Debt: A Primer." World Bank Economic Review 7, no. 2 (1993): 137–72. http://dx.doi.org/10.1093/wber/7.2.137.

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40

Sharma, Shalendra D. "Resolving Sovereign Debt: Collective Action Clauses or the Sovereign Debt Restructuring Mechanism." Journal of World Trade 38, Issue 4 (2004): 627–46. http://dx.doi.org/10.54648/trad2004024.

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41

Mokhova, Natalia, and Marek Zinecker. "Sovereign debt and corporate capital structure: The evidence from selected European countries during the Gglobal Financial and Economic Crisis." Business: Theory and Practice 18, no. (1) (2017): 14–24. https://doi.org/10.3846/btp.2017.002.

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The recent Global financial crisis and the following European debt crisis show the significance of country financial stability and its impact on the private sector. Moreover, the sovereign debt as an essential element of government macroeconomic policy influences the financial performances of the companies and their future development and growth. The capital structure and financing decisions represent one of the most significant parts of company's financial policy and its key to financial strength. There are a lot of external factors influencing the capital structure; however, due to the Europ

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42

Julfia, Fenty Tristanti, Eka Satryawati, Wiga Ariani, and Muhammad Rizqi Ramadhan. "Implementasi Penggunaan Aplikasi Microsoft Power BI dalam Melihat Statistik Hutang Negara di Dunia." Joined Journal (Journal of Informatics Education) 7, no. 1 (2024): 9. http://dx.doi.org/10.31331/joined.v7i1.3221.

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In the era of globalization, an in-depth understanding of sovereign debt statistics is crucial to ensure economic stability. One solution that can significantly contribute to the analysis of sovereign debt data is the application of Business Intelligence (BI) technology, such as Microsoft Power BI. The importance of in-depth understanding of sovereign debt statistics is crucial, considering that sovereign debt can affect economic policy, currency stability, and various other aspects. Therefore, an efficient approach is needed to manage and analyze data related to sovereign debt in a holistic m

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43

Bagwell, Stephen. "Repudiation and Repression: The Human Costs of Sovereign Default." Social Sciences 12, no. 3 (2023): 121. http://dx.doi.org/10.3390/socsci12030121.

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Sovereign default has myriad economic and political consequences. Existing research, however, has not explored the human costs of sovereign default, though some link the fiscal flexibility afforded by sovereign creditworthiness to improved human rights performance. But what are the consequences when sovereigns lose all creditworthiness and default on their debt obligations? I argue that while the average effect of default is negative for respect for physical integrity rights, a conditional effect exists. When states devote more of their resources to debt service and default, they are likely to

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44

Mitchener, Kris James, and Christoph Trebesch. "Sovereign Debt in the Twenty-first Century." Journal of Economic Literature 61, no. 2 (2023): 565–623. http://dx.doi.org/10.1257/jel.20211362.

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How will sovereign debt markets evolve in the twenty-first century? We survey how the literature has responded to the eurozone debt crisis, placing “lessons learned” in historical perspective. The crisis featured: (i) the return of debt problems to advanced economies, (ii) a bank–sovereign “doom loop” and the propagation of sovereign risk to households and firms, (iii) rollover problems and self-fulfilling crisis dynamics, (iv) severe debt distress without outright sovereign defaults, (v) large-scale sovereign bailouts from abroad, and (vi) creditor threats to litigate and hold out in a debt r

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45

Balyuk, Igor A., and Marina A. Balyuk. "Comparative Analysis of the Far East Countries’ Sovereign Debt Risk." Problemy Dalnego Vostoka, no. 2 (December 15, 2024): 86–103. http://dx.doi.org/10.31857/s0131281224020079.

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Due to the changing geopolitical landscape, Russia has been forced to actively establish new international relationships to create conditions for the sustainable development of its national economy and enhance its sovereignty. To promote the development of Russia's Asian regions, it is particularly significant to strengthen cooperation with rapidly growing Asian countries classified as part of the Far East. Sovereign debt risk is an essential consideration when drafting a plan for long-term partnership. This article analyses public debt burdens and determines the level of sovereign debt risk o

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46

Alfaro, Laura, and Fabio Kanczuk. "Undisclosed Debt Sustainability." AEA Papers and Proceedings 112 (May 1, 2022): 521–25. http://dx.doi.org/10.1257/pandp.20221000.

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Over the past decade, non-Paris Club creditors, notably China, have become an important source of financing for low- and middle-income countries. In contrast with typical sovereign debt, these lending arrangements are not public, and other creditors have no information about their magnitude. We transform the traditional sovereign debt and default model to quantitatively study incomplete information arrangements and find that they greatly reduce traditional Paris Club creditors' debt sustainability. Disclosure of nontraditional debt would imply significant welfare gains for the recipient countr

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47

Jeremy, Cripps, and Feeney Kevin. "Consequences of Eurozone Sovereign Debt Default." AICEI Proceedings 7, no. 1 (2012): 237–51. https://doi.org/10.5281/zenodo.4502186.

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After the Second World War in connection with the potential for a national Euro sovereign debt crisis and sovereign debt default, we identify potential and positive consequences of such sovereign debt crises and sovereign debt defaults. This history reveals that four principle consequences have resulted from prior sovereign debt crises and defaults. These are generally seen to be: first, lost national reputation and reduced national borrowing capacity; second, the exclusion of some national companies from trading in certain markets; third, the impact on the domestic economy relating in particu

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48

Raffer, Kunibert. "Risks of Lending and Liability of Lenders." Ethics & International Affairs 21, no. 1 (2007): 85–106. http://dx.doi.org/10.1111/j.1747-7093.2007.00062.x.

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Risk and liability change the initially stipulated terms of contracts, overruling their otherwise binding nature. Risk encourages careful assessment of debtors' abilities to service debts. Errors and negligence in assessment, and even external shocks, make creditors suffer losses. Disregarding one's duty of care or professional standards, or engaging in tortious or illegal behavior makes actors liable to compensate for any resulting damage—a necessary systemic element of the framework markets need to function well. Neither mechanism was allowed to work properly in sovereign lending.This essay

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49

Biondi, Yuri. "Sovereign Debt Restructuring, Refinancing and the Financial Market." Accounting, Economics, and Law: A Convivium 6, no. 3 (2016): 179–88. http://dx.doi.org/10.1515/ael-2016-0024.

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Abstract Lienau’s book on ‘Rethinking Sovereign Debt’ delves into international finance to shed light on its background rules, overarching ideologies and interacting actors, disentangling the social norm of sovereign debt continuity and its institutional foundations. What a formalistic legal reasoning would interpret as a self-contained bilateral contract is then situated in historical time and social space populated by a variety of actors (debtors and creditors), co-existing legal regimes and evolving principles of reference. Her focus on odious debt highlights situations where debt continuit

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50

Tsvirko, S. E. "PROBLEMS OF PUBLIC DEBT MANAGEMENT SYSTEM IN RUSSIA." Strategic decisions and risk management, no. 6 (October 25, 2014): 56–63. http://dx.doi.org/10.17747/2078-8886-2013-6-56-63.

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The problems of the Russia’s debt management are revealed. Evolution of the public debts’ problem of the Russian Federation including the question of its interaction with private debts is discussed. Risks in debt sphere are analyzed. Specific features of the Russian economy such as the dependence on world energy prices, low efficiency of public expenditures, rapid growth of internal public debts and external quasi-sovereign and private debts are defined. Principles of debt management and areas of improvement in the system of Russia’s debt management were defined.

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